The digital age has opened the doors for online entrepreneurship. This means that you can either choose to build the business from the ground up or buy an established one. Creating your business means figuring out what niche you want to serve, designing a website, building an email list, and marketing the business. This process will obviously take quite a bit of time before the business becomes profitable. So, it might be tempting to check out the top ten online businesses for ideas.
Alternatively, you can choose to buy an existing business which is on sale. It goes without saying that this option saves you a lot of time and headaches.
What Does It Take to Buy the Right Business?
However, if you do purchase a business, its success will be solely dependent on your efforts. Just because it had all the right attributes when you bought it does not mean that you should just sit back and relax and wait for the business to return your investment. Naturally, no one expects you to be a guru in the field first day on the job. Yet, you have to be willing to learn.
Nevertheless, from the get-go, be extremely specific on what you truly require from a business so that your search may be easier. Here are some of the factors to consider while choosing an online business to buy:
- Its growth rate;
- The sources of revenue for the business. Has to be more than one;
- Have multiple sources of traffic;
- The revenue generated should be consistent;
- Is marketable.
For more assistance, check out our guide to buying a digital business. With that being said, let us look at the top ten online businesses that you can buy or start at a small fee.
Top 10 Online Business Areas that Conquered the Market
1. Web Design
Web designing is the first among the top ten online businesses and rightfully so. Think about it, what does every business that goes online need? That’s right; a website. It is safe to say that this craft will be very sought after for years to come.
With the presence of freelancer’s job boards, you can easily get labor at cheaper rates from the freelancers from developing countries. Before you feel as if you’ll be exploiting these folks, remember that they are getting very good rates from you as compared to what they would be getting from their native countries.
There is also another way to walk this path. You do not have to do the job yourself. Buy an established account that has good traffic, is well managed, and has a couple of freelancers taking jobs. The idea is that you will be looking for jobs and giving them to your team to work on. Once the client pays you, give the freelancers their cut and you pocket the rest.
With a very small startup capital, you can begin blogging. You will be required, however, to learn the skills necessary to make you a good blogger such as to:
- Learn how to write quality articles;
- Implementing SEO;
- Perform content marketing.
The attainment of these skills will ensure that you do need to outsource any help thus running your blog at little to no costs. Blogging is among the top ten online businesses because let’s face it; we are living in the information age. Everyone is seeking information on how to. It only makes sense to write nice and fresh high-quality articles on a particular niche and very soon you’ll be making money. Here’s how you make money through blogging.
- Through Google AdSense, you can display advertisements on your blog. You will be paid every time someone clicks on an ad.
- You can do affiliate marketing by promoting another business’s products. This way, you get paid when someone purchases the product through your link.
- You can do reviews which you get paid for.
These methods will earn you cash very fast but you must first ensure that the blog attracts a lot of traffic.
3. Online Grocery Shop
Not many people are fans of grocery shopping. They would rather do something else. That right there is a business opportunity. Someone orders their grocery online and is delivered to their doorstep.
This venture is profitable when done right. If you see an online grocery shop in the online market platforms, be sure to consider it. The major work involved once you acquire it is the marketing of your website. A good blog should take care of this.
4. You Tube Channel
A good YouTube channel that has a big following base will cost you a lot of money. But it is one of the top ten online businesses for a reason. If you are able to acquire one, the next step would be to:
- Start making videos- if you are good at it;
- Hire a person well versed in that craft to do it for you.
The more good videos your channel produces, the more followers you are likely to get. Thus, you can hit two birds with one stone.
- One, you can market products via the channel;
- Two, you can monetize the videos as long as they are original.
5. Android App Development
Purchasing a small firm that deals with Android app development is a good idea. The Android phones have monopolized the smartphone market. Nearly everyone today uses a smartphone.
Having a firm that designs good Android apps wouldn’t be such a bad idea, would it?
6. Selling Online Courses
You could start a blog that sells online courses or you could buy one that does. In the digitized world, people are realizing the ease at which they can acquire skills and knowledge without having to go to traditional colleges which are expensive.
Facilitate this by outsourcing these courses and selling them.
7. Designing and Selling of Products At PoD Sites
Print on Demand websites attract a lot of traffic because of the creativity displayed. When someone likes your designs, the website will print the design on a blank material of the customer’s choice and shipped to them.
PoD websites do not require an investment from you. They handle all the processes for you; all you have to do is design and get paid. You will pay the website a nominal fee which is reasonable.
If you come across a business being sold that requires the skills you possess, why not pick it up? Offering your professional counsel to aspiring entrepreneurs in your field can quickly make you money.
Besides, you are helping them find success too.
9. SEO Consultant
Marketing is everything in the online world. This is what makes SEO consultation be among the top ten online businesses.
Possessing these skills will make you very sought after by small businesses to help boost their traffic.
10. Remote Technical Support
If you have serious IT skills, you can start an online company that offers technical support to businesses. If you do not, consider buying a firm that does.
The world being at a virtual age means that you will never run out of technical online problems to handle. This makes it a worthy member of the top ten online businesses.
The great thing about online businesses is that they are easy to start and cheaper to maintain. However, as with all things, the bigger the online business, the more expensive it will be. Then, the more returns on your investment it will yield if properly managed.
These top ten online businesses would be a good place to start in case you are considering to invest online.